The Free-For-All Is Going To Come Under More Scrutiny
A report from The Register Guard in Oregon. “Out-of-state developers have bought the shuttered Louie’s Village Chinese restaurant property in Eugene and hope to demolish it soon, taking a big step forward in their plan for a towering 12-story student apartment complex on the site. The project by Houston-based The Dinerstein Cos. and Pittsburgh-based Maifly Development would be one of the tallest buildings in Eugene, roughly the same height as the Hub apartments on East Broadway, if it’s developed according to plans filed with the city earlier this spring. The venture would add an apartment tower catering to University of Oregon students in a market that some analysts warn is overbuilt, amid flat enrollment at the UO in recent years.”
“The firm doesn’t appear to have ever built or owned a property in Oregon. Ya-Po-Ah Terrace is the city’s tallest building, at 18 stories, followed by the Willamette Towers and Olive Plaza apartments, each 13 stories. The Hub, Hilton Eugene and Patterson Towers are all 12 stories.”
The Charlotte Observer in North Carolina. “Charlotte’s apartment developers are optimistic about the future, mostly agreeing that any slowdown in new building is likely to be a gradual easing back from the city’s record-breaking boom rather than a sudden crash. But at a Bisnow forum Wednesday, some of the city’s most prominent developers said they expect the market to cool a bit in the coming years. Still, they seemed surprised that the market hasn’t slowed already.”
“Some 26,000 new units are either planned or under construction in the Charlotte region. ‘Rents, truthfully, are getting hard to sustain,’ said David Ravin, CEO of apartment developer and manager Northwood Ravin. Ravin said more lenders are asking questions about whether the ‘concessions’ – an industry term for one- or two-month breaks on rent, commonly used to lure tenants to new buildings – are temporary or here to stay.”
“Their consensus: It’s better for the apartment market to slow down a bit, gradually, than come to a crashing halt reminiscent of 2008. ‘I don’t think it’s necessarily a bad thing for us to catch our breath and absorb what we have,’ said Ravin. ‘The free-for-all we’ve been in for the last few years is going to come under some more scrutiny.’”
The Bay State Banner in Massachusetts. “Mayor Martin Walsh joined neighborhood activists to cut the ribbon on 44 new units of affordable housing in the Codman Square area Monday. In a city where 21,865 residential units were permitted at the beginning of the year, the ones in Dorchester stood out. For renters, some relief may be in sight. The 7,000 new subsidized units, along with a total of 12,001 new housing units built and 7,237 permitted, may be taking the edge off the city’s rental market.”
“Average rents in housing units built prior to 2010 dropped 4 percent from $2,071 to $1,984 between 2015 and 2016. In neighborhoods, including Roxbury, the drop was more dramatic. Roxbury, for instance, saw average rents drop 9 percent from $1,757 to $1,598.”
From Curbed New York. “This month, concessions remain the new normal for NYC’s rental market. Landlord perks were high in Manhattan, Brooklyn, and Queens—and yet, those landlords continue to resist lowering the face rent at new and high-priced developments. Jonathan Miller, the man behind Douglas Elliman’s April rental report, explains: ‘While the three boroughs didn’t set records with concessions, they’re flirting with record levels.’”
“In Brooklyn, 14.7 percent of new rentals transactions came with concessions, up from 6.5 percent last year. And in Northwest Queens (the part of the borough that Elliman tracks), those perks have tripled to their highest level to date. A whopping 45.5 percent of rental transactions came with some kind of perk, up from 14.6 percent when the firm began tracking those number last year. ‘As concessions continue to rise as a tool by landlords to fill buildings, you’ll have people at the end of the year who can’t afford to live there if the concessions go away,’ explains Miller. At a certain point, he says, landlords will have to reduce the face rent of apartments. ‘They won’t be able to continue the charade,’ he notes.”
From Bisnow on Illinois. “Northfield-based Interforum Holdings appears to have pulled out of a plan to build 53 luxury condos in the western edge of Lincoln Park, as Chicago’s multifamily real estate sector remains heavily skewed in favor of luxury apartments. The project’s website URL is still online, but leads to an empty homepage. And six combined double lots earmarked for The Parker are now on the market with an asking price of $8.7M; the site will retain its condo zoning.”
From The Real Deal on Florida. “In order to protect the gutted 16-story Versailles Hotel in Miami Beach from the elements, and to avoid the wrath of code enforcement, developer Alan Faena plans to wrap the entire 77-year-old building with a plain red wrap absent of logos while the development company re-evaluates its proposed renovation project. In April 2015, Faena announced that he would convert the old Versailles Hotel into a 22-unit condo called the Faena Versailles Classic. However, Faena told The Real Deal this past October that he was putting the Faena Versailles Classic and Faena Mar projects on hold while he re-evaluates the condo market.”
“Faena’s attorney, Neisen Kasdin, also admitted that the project was on hold in a March 27 letter to the preservation board ‘due to shifting macroeconomic conditions.’ A wrap with the logo ‘CULTURE REIMAGINED Faena District’ was partially blown down about a month ago, said Matthew Barnes, a consultant for Akerman LLP, the Brickell-based law firm that represents the Faena Group. Barnes assured the board that although the original Versailles condo concept ‘is not viable in the market right now’ Faena was ‘not letting it deteriorate.’”
‘As concessions continue to rise as a tool by landlords to fill buildings, you’ll have people at the end of the year who can’t afford to live there if the concessions go away,’ explains Miller. At a certain point, he says, landlords will have to reduce the face rent of apartments. ‘They won’t be able to continue the charade’
‘Some 26,000 new units are either planned or under construction in the Charlotte region. ‘Rents, truthfully, are getting hard to sustain,’ said David Ravin, CEO of apartment developer and manager Northwood Ravin. Ravin said more lenders are asking questions about whether the ‘concessions’ – an industry term for one- or two-month breaks on rent, commonly used to lure tenants to new buildings – are temporary or here to stay.’
But we have posters here that say there is no limit to what a landlord can charge.
And then the music stopped….
…And there weren’t enough chairs.
“But we have posters here that say there is no limit to what a landlord can charge..”
Right, which falls under new paradigm thinking. It’s no different than the old “buy now or be priced out forever” meme…
Somers, CT Housing Prices Crater 9% YoY
https://www.zillow.com/somers-ct/home-values/
‘Stocks lower after retail earnings crater’
‘Stocks are lower at the midday mark, with the real estate sector leading the way down.’
I can remember when sharp falls in retail would suggest recession.
Spirit Realty Capital, Inc. (SRC)
NYSE - Nasdaq Real Time Price
7.42-0.17 (-2.24%)
52 Week Range 6.64 - 13.97
https://finance.yahoo.com/quote/SRC?p=SRC
‘Spirit Realty Capital, Inc. is a publicly traded real estate investment trust. The firm primarily acquires across the United States single tenant operationally essential real estate, which refers to generally free-standing, commercial real estate facilities where tenants conduct retail, service or distribution activities that are essential to the generation of their sales and profits.’
And Restaurants are down as well. All the signs that then RE balloon, and maybe a few other balloons, like the Stock Market, US Dollar and IT, are ready to crater.
Recessions are no longer allowed. Move along, there’s nothing to see.
That’s what happens when the government bans consequences.
That’d be a great development. Recessions are miserable.
‘The business cycle or economic cycle is the downward and upward movement of gross domestic product (GDP) around its long-term growth trend.[1] The length of a business cycle is the period of time containing a single boom and contraction in sequence. These fluctuations typically involve shifts over time between periods of relatively rapid economic growth (expansions or booms), and periods of relative stagnation or decline (contractions or recessions).’
‘The common or popular usage boom-and-bust cycle refers to fluctuations in which the expansion is rapid and the contraction severe.’
‘Business cycles in OECD countries after World War II were generally more restrained than the earlier business cycles. This was particularly true during the Golden Age of Capitalism (1945/50–1970s), and the period 1945–2008 did not experience a global downturn until the Late-2000s recession.[16] Economic stabilization policy using fiscal policy and monetary policy appeared to have dampened the worst excesses of business cycles, and automatic stabilization due to the aspects of the government’s budget also helped mitigate the cycle even without conscious action by policy-makers.’
‘In this period, the economic cycle – at least the problem of depressions – was twice declared dead. The first declaration was in the late 1960s, when the Phillips curve was seen as being able to steer the economy. However, this was followed by stagflation in the 1970s, which discredited the theory. The second declaration was in the early 2000s, following the stability and growth in the 1980s and 1990s in what came to be known as The Great Moderation.’
‘Notably, in 2003, Robert Lucas, in his presidential address to the American Economic Association, declared that the “central problem of depression-prevention [has] been solved, for all practical purposes.”[17] Unfortunately, this was followed by the 2008–2012 global recession.’
https://en.wikipedia.org/wiki/Business_cycle
This was particularly true during the Golden Age of Capitalism (1945/50–1970s)
LOL, a brief window of time in an economy coming out of the aftermath of two of history’s most devastating wars, a devastating depression sandwiched in between (which saw the only period over the last 200 years when economic growth turned negative) and one which wiped out all of American businesses’ competition in Europe, is called “the golden age of capitalism”.
It was no such thing. The 19th century in the US was a the closet we have come so far to an economic golden age.
#fakenews starts with what you’re taught in school
one which wiped out all of American businesses’ competition in Europe
The problem with that theory, which is very popular in some circles, is that it was also a golden age in France, Germany and many other European countries.
The 19th century in the US was a the closet we have come so far to an economic golden age.
If that’s true (ignoring things like the civil war), then would you say it’s mostly due to:
1. No central banking/inflation
2. Basically limitless natural resources, at least in the USA
3. ?
so is perma slow growth
Japan ,France
suicide city
It’s also eye-opening to see how many businesses have 50%+ of their revenues tied to sucking on the Apple teat. I just learned last week that they represent 90% of revenue for two of my former clients.
Been to your local mall recently? I went last week to get a new bike tube for my daughters bike and it was dead. Food court had several eateries closed, several workers look like they haven’t seen a customer all day.
Been to your local mall recently?
Nope
I’ve been to dead ones elsewhere. But I’m always surprised at how well the California ones are doing in the area where I’m at right now. Even the one with a lot of name brand discount outlets that are usually a stage of impending death in other places.
The malls and restaurants around south San Jose in the Almaden Valley have plenty of foot traffic and appear to be thriving.
May 27, 2016
“No one has ever accused me of not being a realist,” Sam Zell told CNBC. The chairman of Equity Group Investments and of apartment mega-landlord Equity Residential was talking about the markets for office and apartment buildings in some major cities that have already peaked.’
“Overall we’ve come off this extraordinary period of liquidity and this extraordinary period of low interest rates,” he said. “I think we’re unlikely to see a repeat of that going forward, and I think we’re going to see more supply in what had been pretty tight markets.”
‘Now he’s selling again, unloading multifamily properties at peak prices on a massive scale just when a multi-year construction boom is flooding the market with new supply. Last October, Equity Residential sold 72 low- and mid-rise properties with over 23,000 apartments for $5.4 billion to Starwood Capital Group. With “pricing currently available in the commercial real estate market, it is very hard not to be a seller,” Zell said at the time.’
‘Equity Residential still held 318 properties with nearly 86,000 apartments. In November, it put its Berkeley, CA, portfolio up for sale: eight buildings with 452 apartments and the entitlement rights to build a 205-unit complex.’
‘In February, it inked a deal to sell its Woodland Park property with over 1,800 rent-stabilized apartments in East Palo Alto, CA. It had bought the property in 2011 at the bottom of the local real estate market. More deals are expected or are already transpiring.’
‘this extraordinary period of liquidity and this extraordinary period of low interest rates’
We were talking the other day about the GSE’s financing apartments in a big way. About 9 months ago I posted a quote from a multifamily lender who said, “like every one else on the planet, I’ve been financing or refinancing every deal I can get my hands on.” Point is, there was no need for the GSE’s to juice this market: there was plenty of capital available. But Mel Watt had the pedal to the metal.
I’m surprised Zell hasn’t already sold everything
He’s working on it.
What do all these places have in common…
And shouldn’t less people = lower housing prices?
++++
The Big 3 Exodus: California, Illinois, and New York Keep Losing People to Other States
The Mises Institute | 05/11/2017 | Ryan McMaken
It seems that many residents of the West Coast and the Northeast are leaving those regions behind.
Californians report that a lackluster job market, a high cost of living, and high taxes are pushing them out.
Nor is it likely a coincidence that, using the Tax Foundation’s measure of tax burden, California, New York, and New Jersey are found among the states with the largest tax burden, and the largest population loss to other states. Eight of the ten states with the highest tax burdens experienced population loss to other states.
And here in the Seattle/King County area, local politicians are trying to become the next Chicago/Cook County, tax-wise.
They just passed a $54B tax increase to pay for the light rail (that their own numbers show will do nothing to alleviate traffic congestion - the ridership will primarily be from existing bus routes that will be cancelled once the train is operating).
This year, the county wants to increase the sales tax to pay for arts projects (just arts, not even funding preschool or anything like that), and the City of Seattle is looking at an income tax (which is prohibited by the state constitution) and a soda/sugary drink tax.
My annual property tax increases have looked like this recently:
2014: +$100 over previous year
2015: +$200
2016: +$400
See the trend?
Public union pensions will be paid.
Even after bankruptcy (see Detroit and Puerto Rico for examples)
Public unions are the largest campaign contributors of all time. And they give nearly 100% to democrats.
Nothing will change.
As the article implies, the only thing you can do is leave.
https://www.opensecrets.org/orgs/
Look for counties w median age over 42=no school kids n lower crime
“the county wants to increase the sales tax to pay for arts projects”
Here in Portland we pay an “Arts Tax.” Every year each Portland resident has to send a separate check to the city of Portland for $35.
“See the trend?”
It looks like 2017 will prove whether the trend is x2 or ^2.
If 2017 is $800 or $1600, then either trend is Y = C*2^x. The difference is whether C is $100 or $200. Either way, it is definitely exponential on the few data points available.
My annual property tax increases have looked like this recently:
Have you renewed your car tabs yet this year? That’s a fun one too!
Mine increased about 70%.
‘California Governor Jerry Brown is set to revise his proposed budget on Thursday, as the most populous U.S. state faces slumping tax collections and uncertainty over whether the federal government will cut health care funding for the poor.’
‘The budget Brown proposed in January already required the first belt-tightening in years for California, calling for reductions in anticipated spending on education, child care, affordable housing and state office renovations to avoid a deficit of $1.6 billion.’
‘On Wednesday, State Controller Betty Yee said revenues through April for the fiscal year that began last July were $1.83 billion below initial estimates. Income tax in April lagged projections by about $708 million, she said. “While we await the governor’s May Revision, this is another signal that we may be inching toward an economic downturn, and we must tailor our spending accordingly,” Yee said.’
’slumping tax collections and uncertainty over whether the federal government will cut health care funding for the poor’
It’s a good thing Maxine Waters keeps flapping her gums, I’m sure there will be a sympathetic ear in DC. Natty Ice Dude, you need to step up and pay your taxes, deadbeat!
‘revenues through April for the fiscal year that began last July were $1.83 billion below initial estimates. Income tax in April lagged projections by about $708 million, she said. “While we await the governor’s May Revision, this is another signal that we may be inching toward an economic downturn”
Well it was fun while it lasted. Housing bubbles just make you poor.
Snap Inc. (SNAP)
NYSE - Nasdaq Real Time Price.
18.29 -4.69 (-20.41%)
52 Week Range 17.59 - 29.44
EPS (TTM) -0.64
https://finance.yahoo.com/quote/SNAP?p=SNAP
‘Snap Inc. operates as a camera company. It offers Snapchat, a camera application that helps people to communicate through short videos and images. The company also provides a suite of content tools for partners to build, edit, and publish snaps and attachments based on editorial content; and Spectacles, which are sunglasses that capture video from a human perspective. The company was formerly known as Snapchat, Inc. and changed its name to Snap Inc. in September 2016. Snap Inc. was founded in 2010 and is headquartered in Venice, California.’
Sounds like something I can’t live without.
Is their mascot a puppet?
But it’s a camera company! Way more tech than taxis and bed and breakfast.
I knew sanpchat was worthless, I tried to short it but there were no shares so I bought January puts
And they’re taking over a bunch of oceanfront real estate in Venice. It was a big story on the news recently about how they’re kicking out the long running freak show.
One freak show for another…
Yeah, but the CEO is engaged to Miranda Kerr.
Camera company? Look at GoPro to see how that turns out. All this junk is being flushed and good riddance.
My son wanted a $450 G.P. for his ski helmet. I gave him my old pana palm ‘corder and some duct tape. I looked at him and said it was this or a job : )
lol
https://youtu.be/ClvI9fZaz6M?t=3m51s
Is this your son wearing Google Glass?
I’ve watched some hiking videos on YouTube taken by people wearing GoPros. Maybe it’s my age, but I get motion sickness when the images move like that. If I bought one, I’d have to buy some Dramamine along with it.
Like their hikes are such an epic adventure.
Watch how the Millennial “investor” lemmings who bought SNAP as an “investment” rush out to catch the falling knife, too naive to realize that the CEO and SNAP insiders have already made their haul from the IPO and it’s almost certainly all downhill from here.
This gives he ECB even more street cred. They invested in actually making French yogurt, instead of investing in some app that gets yogurt lovers together or delivers yogurt to you
.
Ironic. Where are the angry town hall mobs when a democrat cuts education, child care and housing?
And saving a measly $1.83 bullion…how cute.
Public union pensions will be paid.
******
California schools may face cuts amid skyrocketing pension costs
San Francisco Chronicle | January 23, 2017 | Jill Tucker
California’s pension problem isn’t new. For years, economists and policymakers have warned that the state’s pension systems won’t have enough money to fulfill promises to millions of current and retired workers. But next year, officials said, rising pension costs will eat up more than a third of proposed increases to the state education budget.
There is a predicted shortfall among all state retirement accounts of at least $230 billion based on what’s owed to current and future retirees
California schools may face cuts amid skyrocketing pension costs
San Francisco Chronicle | January 23, 2017 | Jill Tucker
Answer more H1B ?
I pitch raising the retirement age to 66 for gov workers and pols dodge n duck
Cali hasn’t put a dent in their pension liability
talk about extend and pretend
‘OPEC said Thursday that oil producers needed to make more joint efforts to match supply and demand in the oil market in the face of rising output in the United States…Overall, the cartel expects non-OPEC supply to increase by 0.95 million barrels per day, with the United States alone likely to contribute 0.82 million barrels per day.’
All your oils belong to Texas now.
Quick OPEC, have another emergency meeting.
Demand is expected to grow 1.2 million barrels over the next year
Keep counting those un-hatched chickens. Every day frackers get stronger and OPEC gets weaker. The great gamble failed.
Top Ships Inc. (TOPS)
2.25-1.25 (-35.71%)
https://finance.yahoo.com/quote/TOPS?p=TOPS
Top Ships Inc. provides seaborne transportation services worldwide. It owns and operates medium range tanker vessels that transport crude oil, petroleum products, and bulk liquid chemicals. The company transports petroleum products and crude oil for the oil industry
+2. Add to the fact that less people drive to the mall and would rather shop from home.
On the other side of the coin you’ve got all these people medicating their RV fever. I’d love to know what the national tally is for these sorts of loans?
Getting a loan for a boat, RV or any other recreational device will leave you schlonged!!
Blind faith in the Chinese and oil. Odd bedfellows.
As opposed to blind faith in Pelosi and Chuck? Speak about odd bedfellows.
Pelosi and Chuck are corporatists. Vote no on these puppets.
Hold on to your gasket natty ice dude:
‘Comey firing could spur new review of Clinton case, immunity deals, ex-agent says
HRC is a corporatist.
I told ya all Trump would break everything…
Then we rebuild.
But, but, but, HRC is totally fine and ethical…
http://circa.com/politics/clinton-pressured-bangladesh-prime-minister-personally-to-help-foundation-donor
Isn’t calling people by their three initials reserved for the president? The only election screech ever won was against the mayor of Yonkers.
‘I told ya all Trump would break everything…’
Gasket - blown.
“faith in the Chinese.”
Including faith in Chinese cooked chicken, which will now be allowed to be imported into the US. Great, just label it as Made In China, mmkay?
“Back on the market” seems to be becoming a common theme…
Not….giving…..it……away
No? The lack of back-up offers and this inspection report say otherwise.
Here too. My favorite is “Back on the market - buyer couldn’t perform”.
Think I’ve seen that on a dating site as well, lol!
“Back on the market” seems to be becoming a common theme…”
That theme is 5 years late.
Seattle’s median home price hits record: $700,000, double 5 years ago
Originally published April 6, 2017 at 2:33 pm
http://www.seattletimes.com/business/real-estate/seattle-home-prices-hit-700000-for-first-time-after-doubling-in-five-years/
Seattle Metro Housing Demand Craters 12% YOY
http://files.zillowstatic.com/research/public/Metro/Metro_Turnover_AllHomes.csv
Wrong as usual, Race:
http://seattlebubble.com/blog/2017/05/05/nwmls-home-prices-hit-new-highs-listings-still-scarce/
Boots on the ground data my good friend…. boots on the ground data.
Kirkland, WA Housing Prices Crater 23%MoM
http://www.movoto.com/kirkland-wa/market-trends/
You really need to see a specialist there, Haystacks.
Data my good friend.
Silverdale, WA Housing Prices Crater 9% YoY
https://www.zillow.com/silverdale-wa/home-values/
Heh heh, you’re always good for a laugh there, HA.
You might as well have posted a link for Boise, ID instead, as it has about as much to do with the Seattle market as Silverdale does.
And don’t forget falling rental rates my good friend.
Kirkland, WA Rental Rates Crater 8% YOY On Skyrocketing Inventory
https://www.zillow.com/kirkland-wa/home-values/
“Buyer and seller can’t do stairs anymore”
Oops, we’re gonna be eight balling a lot of McMansions.
WASHINGTON (Reuters) - U.S. Commerce Secretary Wilbur Ross sees the U.S. semiconductor industry as still dominant globally but said he is worried that it will be threatened by China’s planned investment binge to build up its own chipmaking industry.
Ross told Reuters in an interview this week that his agency is considering a national security review of semiconductors under a 1962 trade law because of their “huge defense implications” including their use in military hardware and proliferation in devices throughout the economy.
He has launched similar “Section 232″ reviews of the U.S. steel and aluminum sectors, where a flood of imports especially from China has depressed prices, threatening the industries’ long-term health.
The probes could lead to broad import restrictions on the metals, and the Trump administration could potentially take similar actions based on the findings of a semiconductor investigation.
“Semiconductors are one of our shining industries, but they have gone from substantial surplus to the beginnings of a deficit,” Ross told Reuters. “China has a $150 billion program to take that much further between now and 2025. That is scary.”
Answer more H1B ?
china building their own _____________.
if i recall correctly, didn’t a fledging US of A smuggle factory plans out of England to break their monopoly grip & launch the “Industrial Revolution”?
China building their own airliners.
Airbus and Boeing are going to lose future A320 and 737 sales in China. What will be interesting is if ultra budget carriers in the west (i.e. Ryan Air, SleazyJet, Frontier, etc.) will order the COMAC C919.
Even better, they’ll buy them used after the Chinese have beaten them to death.
I would avoid brand new C919’s. Think Scarebus, but worse.
So how about a Boeing plane partially assembled in China:
http://www.shanghaidaily.com/business/transport/Boeings-1st-overseas-plant-starts-construction/shdaily.shtml
Of course, Nazi Germany used Ford trucks.
So how about a Boeing plane partially assembled in China?
Since those are for the Chinese market, once the C919 is “certified” no Chinese airline will buy another 737 (or a Scarebus 320), regardless of where they are made.
I strongly suspect that any reputable airline that buys a 737 will not want one assembled in China.
Why can’t we just 3-D print the suckers?
You can ride on the first one
Yes, but all those Seattle coffee shops will more than make up the revenue and employment shortfalls.
American publishing companies got their start by pirating English novels. Since they were an ocean away, and there was no enforcement here, they got away with it. Now, of course, they are completely ferocious about copyright issues.
So much of our government apparatus at every level exists to support and maintain powerful economic interests.
Last week the Texas legislature passed a bill to eliminate mandatory passenger vehicle safety inspections, and one opposing legislator’s response was to wail about how all the poor mechanics are going to be “devastated” economically by this.
And of course every group like this has a lobbying arm which pretends to be serving “the public interest”:
The Automotive Service Association, which bills itself as a group that promotes “professionalism and excellence in the automotive repair industry,” issued a press release Tuesday asking lawmakers to vote against the measure.
“This private-public partnership program should not be eliminated without further research and input from stakeholders,” said Automotive Service Association representative Robert L. Redding Jr.
https://www.texastribune.org/2017/05/04/senate-passes-bill-would-eliminate-vehicle-inspection-requirement/
We had auto inspections here in Florida during 70s. The program did not last but a few years and was definitely a big gubmint boondoggle with no apparent effect when implemented and no effect when it was ended. More foolish nanny state ideas.
FL- yeah, you guys have the reputation for getting it right! lol@lola
You should see how they inspect them in Europe. Once a car is approaches 10 years of age the unnecessary repair punch list gets so big that they end up sending perfectly good cars that aren’t beaters to the junkyard.
“So much of our government apparatus at every level exists to support and maintain powerful economic interests.”
God’s Plan.
Bankers’ plans. But that’s the same thing, right?
For awhile the talk hosts on the major talk radio station here have been hawking the “Rich Dad REIT” which focused on investing in commercial.
Recently the’ve switched to a REIT that invests in student housing.
Both of these seem to be overbuilt…
oh my.
YIKES, they both popped last year
http://www.dailymail.co.uk/news/article-4493644/Record-setting-ELEVEN-homes-sold-100million-more.html
Oceanfront Miami Beach, FL Housing Prices Crater 8% YoY
https://www.zillow.com/oceanfront-miami-beach-fl/home-values/
“…Alan Faena plans to wrap the entire 77-year-old building with a plain red wrap absent of logos while the development company re-evaluates its proposed renovation project…..”
I walked by this building a couple of months ago in Miami Beach and wondered what was going on with it. The property looked abandoned and the “wrap” was coming off the building.
We had dinner and desert at Claridge’s Cafe across the street and all the bartender could talk about was his plan to buy a Miami Beach condo and make enough money to retire. You would think the stalled project outside the front door would provide him with a clue.
Making America great again:
http://www.arabianbusiness.com/saudis-keen-boost-us-ties-with-40bn-investment-673774.html
Saudi Arabia and AIPAC share the same motto: Onward Christian soldiers.
I’m a slusher he’s a slusher she’s a slusher we’re a slusher wouldn’t you like to have a slush fund too?
Napolitano’s UC hid $175 million while demanding money, audit says
Published April 26, 2017
Howle said Napolitano also overcharged the system’s 10 campuses to fund its operations, paid its employees significantly more than state employees and interfered in the auditing process.
“Taken as a whole, these problems indicate that significant change is necessary to strengthen the public’s trust in the University of California,” Howle wrote in the report.
http://www.foxnews.com/us/2017/04/26/napolitanos-uc-hid-175-million-while-demanding-money-audit-says.html
This reminds me somewhat of the scam Bernie Sanders wife was running…
Democrats view public universities as their own private gulags to run and loot as they see fit.
They control the guards, control what is taught, crush all dissenting thoughts and the prisoners pay to be there.
Mao and Stalin would be jealous
Chill, dude. Maybe she’s planning to run for President and read a certain someones’ how-to.
Bet she uses private email for “bidness” purposes as well.
Isn’t this the same school system that claimed they were so poor, and laid off some IT workers to hire H1-B?
Why yes… it is.
http://www.latimes.com/business/hiltzik/la-fi-hiltzik-uc-visas-20170108-story.html
Some of Comrade Pelosi’s entitlement voters are getting spooked.
http://www.dailynews.com/social-affairs/20170510/deportation-fears-stop-some-la-county-immigrants-from-applying-for-ebt-program
So in addition to them not coming here anymore, the ones that are here are shunning joining the Free Sh!t Army!
It just keeps getting better. How soon until they begin to self deport themselves?
They’re not building preserved stone houses in Orkney, Scotland anymore.
Buy now or be priced out forever.
http://knuckledraggin.com/2017/05/doesnt-look-very-preserved-to-me/
If a Russian takeover were underway, how would we even know, given that the MSM cannot be trusted?
China’s overseas buying spree has come to a screeching halt.
https://www.bloomberg.com/news/articles/2017-05-10/china-s-246-billion-takeover-spree-is-crumbling-as-sellers-balk
Luxury real estate bubble collapse DEAD AHEAD.
Look for Chinese investors to be snapping up deals at fire sale prices in three years or so.
I’d like to thank all my good friends for sending the venom filled emails my way today. I truly enjoy them. It’s good to know you’re having another rage-filled day.
With all my love,
Oscar Goldman
I just got done pounding 2 little sumpin brewskis, highly recommended for u pukes still drinkn bud.
Anyway, i’m wondering how long this sh@t show in the nasdaq high flyers will last? Isnt this Bs getting a little absurd?
UK housing bubble is deflating. Pity the FBs who bought at the top.
https://www.theguardian.com/business/2017/may/11/stagnant-buyer-demand-puts-the-brakes-on-uk-housing-market
And I don’t think they can just walk away when they are hundreds of thousands of pounds underwater. That debt will haunt them for the rest of their lives.
“That debt will haunt them for the rest of their lives.”
(smile)
Barnes assured the board that….Faena was ‘not letting it deteriorate.’
Plastic wrapped dry-wall in Summer Miami heat?
Mold….black mold. The smell will overwhelm people in its presence.